Highlights
- Mineralization intersected in all four step-out holes testing the previously undrilled C2 and C3 gravity-high anomalies (located 530m and 930m east of the Ballywire discovery area)
- Key intersections include:
- 4.6m of 5.2% Zn+Pb (4.4% Zn and 0.9% Pb) and 15 g/t Ag (from 288.9m down hole), including 1.9m of 6.9% Zn+Pb (5.5% Zn and 1.4% Pb) and 22 g/t Ag within a 59.7m package of intermittent mineralization (not yet fully assayed) in G11-3552-08, a 930m step-out (testing Anomaly C3)
- 2.7m of 4.3% Zn+Pb (1.1% Zn and 3.2% Pb) and 7 g/t Ag, including 0.6m of 12.9% Zn+Pb (1.5% Zn and 11.4% Pb) and 16 g/t Ag (from 291.5m down hole) within a 22.5m wide zone of mineralization in G11-3552-06, approx. 100m south of the above hole; and
- 4.4m of 304 g/t Ag, 0.73% Cu and 1.0% Zn+Pb (0.9% Zn and 0.1% Pb) (starting at 331.6m down hole), including 0.6m of 1,440 g/t Ag, 3.03% Cu and 1.6% Zn+Pb (1.5% Zn and 0.2% Pb), the highest silver value ever intersected by the Company, within a 91.9m package of intermittent mineralization in G11-3552-07, a 530m step-out (Anomaly C2)
- The above results combined with the projection of the high-grade trend at the discovery area, suggest that the strength of the system is increasing to the north of the C2 and C3 anomalies
- Drilling continues with two rigs, testing further north on Anomaly C3 and in between the discovery area and Anomaly C2, respectively
"We are very pleased that robust mineralization at Ballywire has now been intersected over a strike length of over 2.6km, up from 1.7km previously," stated
First Four Holes from 2024 Drill Campaign at Ballywire Discovery
The Ballywire prospect at the Company's 100%-owned
Mineralization occurs as sphalerite, galena, pyrite, chalcopyrite and suspected tennantite- tetrahedrite, and is bedding parallel along and close to the base of the Waulsortian limestone. Notably, significant volumes of dark grey, dolomitic breccias are present in hole G11-3552-08 (see Exhibit 4). Today's drill results combined with the projection of the high-grade trend at the discovery area (see Exhibits 1 and 2), suggest that the strength of the mineralizing system is increasing to the north of the C2 and C3 gravity-high anomalies.
Exhibit 5. Summary of Assays from G11-3552-05, -06 and -08 at Ballywire
Item | From (m) | To (m) | Int (m) | Zn (%) | Pb (%) | Zn+Pb (%) | Ag (g/t) |
G11-3552-05 | 312.36 | 313.34 | 0.98 | 0.20 | 0.04 | 0.24 | - |
And | 322.84 | 323.80 | 0.96 | 0.23 | 0.10 | 0.33 | - |
And | 325.71 | 326.57 | 0.86 | 0.24 | 0.04 | 0.28 | - |
And | 329.53 | 330.49 | 0.96 | 0.17 | 0.04 | 0.21 | - |
G11-3552-06 | 291.54 | 314.00 | 22.46 | 0.63 | 0.45 | 1.08 | 2.1 |
Incl. | 306.51 | 314.00 | 7.49 | 1.37 | 1.22 | 2.60 | 4.2 |
Incl. | 310.92 | 314.40 | 3.48 | 0.96 | 2.40 | 3.36 | 5.6 |
Incl. | 311.75 | 314.40 | 2.65 | 1.06 | 3.24 | 4.30 | 6.9 |
Incl. | 313.40 | 314.00 | 0.60 | 1.54 | 11.40 | 12.94 | 16.3 |
G11-3552-08 | 279.00 | 298.40 | 19.40 | 1.18 | 0.35 | 1.53 | 5.5 |
Incl. | 286.96 | 298.40 | 11.44 | 1.95 | 0.57 | 2.52 | 8.3 |
Incl. | 288.90 | 293.54 | 4.64 | 4.36 | 0.86 | 5.22 | 15.0 |
Incl. | 289.75 | 291.66 | 1.91 | 5.52 | 1.35 | 6.87 | 22.3 |
Incl. | 289.75 | 290.75 | 1.00 | 7.69 | 1.34 | 9.03 | 11.6 |
Note: True width as a percentage of drilled intercept is approximately 90-100% for G11-3552-05, -06 and -08 |
Exhibit 6. Summary of Assays from G11-3552-07 at Ballywire
Item | From (m) | To (m) | Int (m) | Zn (%) | Pb (%) | Zn+Pb (%) | Ag (g/t) | Cu (%) |
G11-3552-07 | 330.30 | 343.55 | 13.25 | 0.38 | 0.04 | 0.43 | 105.0 | 0.26 |
Incl. | 331.57 | 332.09 | 0.52 | 1.27 | 0.17 | 1.43 | 12.4 | 0.03 |
And | 332.09 | 332.43 | 0.34 | 1.14 | 0.05 | 1.19 | 14.6 | 0.04 |
And | 332.43 | 333.10 | 0.67 | 1.07 | 0.10 | 1.16 | 469.0 | 1.56 |
And | 333.10 | 333.45 | 0.35 | 0.64 | 0.04 | 0.69 | 30.7 | 0.05 |
And | 333.45 | 333.70 | 0.25 | 0.74 | 0.02 | 0.76 | 485.0 | 0.94 |
And | 333.70 | 334.07 | 0.37 | 1.20 | 0.01 | 1.21 | 20.9 | 0.12 |
And | 334.07 | 334.82 | 0.75 | 0.08 | 0.01 | 0.08 | 5.8 | 0.01 |
And | 334.82 | 334.99 | 0.17 | 0.73 | 0.29 | 1.02 | 220.0 | 0.48 |
And | 334.99 | 335.54 | 0.55 | 1.47 | 0.17 | 1.64 | 1440.0 | 3.03 |
And | 335.54 | 335.97 | 0.43 | 0.51 | 0.08 | 0.60 | 90.8 | 0.17 |
331.57 | 335.97 | 4.40 | 0.87 | 0.09 | 0.96 | 304.1 | 0.73 | |
Incl. | 332.43 | 335.54 | 3.11 | 0.82 | 0.08 | 0.90 | 414.1 | 0.99 |
Incl. | 334.82 | 335.97 | 1.15 | 1.00 | 0.16 | 1.16 | 755.2 | 1.58 |
And | 386.08 | 389.04 | 2.96 | 0.03 | 0.01 | 0.04 | 28.3 | 0.95 |
Incl. | 386.08 | 386.47 | 0.39 | 0.18 | 0.00 | 0.18 | 104.0 | 5.90 |
And | 395.62 | 395.82 | 0.20 | 0.01 | 0.03 | 0.04 | 68.1 | 0.51 |
Note: True width of the overall mineralized package above is estimated at approx. 90-100%, however, at the centimetre-scale, mineralization is predominately hosted within two orthogonal sets of steeply dipping veins (dipping to NE and NW, respectively) |
Notes to Exhibit 8: (a) Pallas Green MRE is owned by Glencore (see Glencore's Resources and Reserves Report dated
Planning is underway for a drilling program at the Company's 76.56%-owned
Technical information in this news release has been approved by Professor
Group Eleven inserts certified reference materials ("CRMs" or "Standards") as well as blank material, to its sample stream as part of its industry-standard QA/QC programme. The QC results have been reviewed by the Qualified Person, who is satisfied that all the results are within acceptable parameters. The Qualified Person has validated the sampling and chain of custody protocols used by Group Eleven.
ON BEHALF OF THE BOARD OF DIRECTORS
Chief Executive Officer
Neither
This press release contains forward-looking statements within the meaning of applicable securities legislation. Such statements include, without limitation, statements regarding the future results of operations, performance and achievements of the Company, including the timing, content, cost and results of proposed work programs, the discovery and delineation of mineral deposits/resources/ reserves and geological interpretations. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are typically identified by words such as: believe, expect, anticipate, intend, estimate, postulate and similar expressions, or are those, which, by their nature, refer to future events. The Company cautions investors that any forward-looking statements by the Company are not guarantees of future results or performance, and that actual results may differ materially from those in forward looking statements as a result of various factors, including, but not limited to, variations in the nature, quality and quantity of any mineral deposits that may be located. All of the Company's public disclosure filings may be accessed via www.sedar.com and readers are urged to review these materials, including the technical reports filed with respect to the Company's mineral properties.
SOURCE
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